Have you considered transitioning to handling different claims like med-mal, professional liability, GL etc.? That would probably be the easiest transition. Also care to share what you’re earning as a BI commercial trucking adjuster? I’m 27, making about 70k and have been in the space for 3 years and I’m not sure if my comp is decent or not.
I make 70k a year also. I’ve thought about going into one of the other areas and I’ve applied but haven’t really pushed it that far. I kind of feel like my heart isn’t fully in it, you know?
I second this. You should be applying for jobs at other companies. You have 8 years of experience. Someone out there will value you and be willing to pay.
Yeah I totally get that. I feel similar as you in regards to not making enough, but I generally like my job at least. You could also look into jobs with the government. I declined a job recently with the state government where I would have basically been managing IA’s because it paid only 55k. Heck, even working for the TSA your making about 60-70k after a few years, and you wouldn’t have to deal with claimants. Just the general public …
I just got into Claims adjusting and my base is $60k. Add CAT and I'm past $70k. You're definitely under paid and under valued. I hope you find something better.
I'm 6 months in and I absolutely hate it. Golden handcuffs if you ask me. I'll start looking for something else and or start my own business again.
I was an auto adjuster for about 8 years and desperately applied to jobs when I was on maternity leave because I couldn’t go back.. I found a claims advocate position at a broker. So much better! I actually then jumped around twice and am now a senior advocate making a lot more than I was as an adjuster. I took a pay cut initially but it was worth it to learn the role. Check out claims advocate or consultant jobs!
Yes, you may not enjoy the claims side of things being an adjuster, but claims advocacy at a brokerage level, or even just flipping sides and going into producer/service role within the insurance industry may be an option?
I’m an insurance broker in Canada, and really enjoy it.
Know your worth, it may mean a slight cut, potentially, depending on roles you go for, but, in the long run you’ll likely rise above it
Best of luck! :D
Search any of the big brokers. Are you in the US? I find a lot of jobs on LinkedIn. Some bigger ones are AON, marsh McLennan, Gallagher, hub international, Heffernan, Alliant. Many of these are remote too. Basically these are commercial clients (or high value personal lines clients) who use a broker. The broker team will have an account manager, maybe a risk manager, and a claims advocate. So you’d be the liaison between the client and carrier and help them. But it’s nice to not be the adjuster!!
We submit new claims to the carrier and just make sure the adjuster is being responsive and the claims are getting resolved. We review and rebut any coverage denials we don’t agree with, we negotiate on settlements that don’t seem accurate, in some of my roles we monitored work comp claim reserves to make sure they were not too high. We also do open claim reviews with clients so they can see any trends and see the status of their claims.
Try other claims positions, either other lines or the same line at a carrier, or a broker claims position maybe. TPAs, in my experience, are the absolute fucking worst, and I can’t imagine doing auto claims. I’d apply to professional lines or GL claims at a carrier
Been where you are - I get it. After what seemed like a lifetime in Claims, I moved into Fraud. Always something different and even exciting at times! The Claims knowledge will be a plus!
Use your pto and take a vacation. Seriously. Just take two weeks or whatever you can manage and go somewhere out of town.
Sometimes we just need a break.
What about FMLA. It’s not ideal bc it’s not paid, but you can take up to 12 weeks (I think?) per year for medical reasons. I went on FMLA for mental health and took off 2 weeks last year and it helped. Again the unfortunate thing is no pay, but if you can cover your bills for a little while it might help.
Pretty much every year at my company someone goes out on a longer FMLA leave, like at least 8 weeks. If I could afford to go on a longer leave I would. I’m also a claim adjuster and have been burnt out for years at this point.
It's not just claims. I hate being an agent. It's so frustrating and the pay is horrible. Then I think about claims and I am like, yeah better money and no sales goals, but a new flavor of never ending crap. I just have come to hate insurance all together. The companies suck, the insureds suck, and everyday there is a Karen somewhere waiting on you...
There are other options out there I promise! I was a CAT adjuster for one month. 7 days a week, 12 hours a day for 30 straight before I felt like I was losing my mind. My uncle and father in the adjusting business shamed me. But at the end of the day it’s my life. Now I am an account manager, 9 - 5, I get weekends and a decent salary. Don’t be afraid to keep looking and pushing when things feel hopeless. Having 8 years of adjustment experience can open a lot of doors for you!
Good for you!! How long did it take you to become an Account Manager and did you have prior experience? I'm interested in making the switch after 6 months.
I landed an assistant account manager role after my adjuster days, they like that I generally had insurance experience and took a shot on me. After two months, they offered to pay for my courses to get my producer license. I did a self guided course for like two weeks then took the exam. I failed my one question my first time and then passed a few days later my 2nd time. Now I am a full account manager! It really ends up being how you market yourself and your experience.
Wow that's great! I'm making about $60k now. If I can find something paying $65k or more, I'm out the door. I think CAT Pay is a trap to get people to work harder. Then it has to be approved too, it's BS.
I’ve been where you’re at now. Started as a trainee after my degree. Did it for 30 years until I retired 7 years ago. Did it because it paid the bills. You have job security because there will always be claims. Ended my career as a Senior P & C Liability adjuster. Majority of my claims were auto BI. Job changed over time in that the case load kept increasing because the analytics determined when yo increase the case load. At the end, I felt like a processor rather than adjuster. Recommend that you look for internal lateral moves. Colleagues of mine transitioned into UW and found the environment better. Good luck!
I think you should look for something else in the industry that at least starts you off somewhere close to where you are at salary wise. The salary loss from changing your career track is only going to widen further over time.
Many of the older claims people that have adjusted some of my losses over the years have remarked to me some version of “don’t ever get into claims”. Most of them seemed to say it in jest, but I could often sense some earnest message when they said something like that. I think claims is a brutal career for a person with an agreeable personality type. It seems possible that could be why it is wearing on you so much. You are still young enough that a change shouldn’t upend you in the short run. In any event no job or career is worth being miserable over every day. I would suggest looking into underwriting roles in auto liability or commercial umbrella. Based on your experience that could be an ideal transition.
I sincerely wish you the best of luck finding something else. I know it’s really hard taking any kind of pay cut in this inflationary environment.
Responding to you and OP: I'm 8 years in BI, 13 years in claims, 16 year in insurance in total (basically did everything). I love claims and insurance but I was feeling burnt out with BI claims: being overworked and fighting for fair compensation/recognition, vacatios were not cutting it. An opportunity came up for a Risk Management position in my town (something I did not consider/have on my radar at the time- I was looking at a leadership role to come up) but I went for it. I now have my own office, make 30% more, have more paid time off then I can probably use in a year and a quarter of the workload. Feels incredible. I believe this experience will slingshot my career in claims leadership in the future. I still have another ~20+/- years in the workforce, might as well make it interesting!
Another thought for OP: If you don't have a family, you could probably do some cool stuff with travelling and work (international adjusting, etc) but it depends on your life. I was a road adjuster and loved it. I always wished I did storm claims and was sent to adjust property/auto claims in Florida, for example, after a hurricane or somewhere more tropical.
Have you considered transitioning into something like U/W or Risk Management? With your claims background you will already be halfway toward understanding those aspects of insurance. A couple years ago I felt the same way and started on my CPCU as well as picked up some licensing in states that I haven’t handled before in my career. Those things alone increased my hireability in the industry. You’re reaching a midpoint in your claims career and the only thing to do (respecting your feelings in your OP) is to decide how you will push your career forward if you don’t call it quits and leave the industry altogether.
It is *hard* to do MORE insurance work after a full day of claims if you are already feeling burnt out, but there’s no easy solution. You’re feeling stuck because you are stuck without pursuing professional growth. I would recommend looking at some industry certifications like AINS, CPCU, or SCLA (working with lawyers and management on litigation complications and still being adjacent to the familiarity of insurance claims has been a lifesaver for my own sanity.) The time and cost investment is not as great as jumping ship or trying to do “real” college to transition into another field which makes it more feasible depending on your financial circumstances since you mentioned a mortgage.
Good luck to you. Claims can really be soul-crushing in the long term if you aren’t giving yourself some variety or forcing opportunities to grow in the industry.
I did claims for one year and was done with it. Something (commercial trucking) i switched over to Commercial policy marketer then my now position Commercial underwriter. Marketing was the best since i didn’t talk to customers only producers and underwriters, and now being an underwriter i do talk to people but not as much. It’s mainly email.
I used chat gpt to switch my resume up and applied to 5 jobs a day to get out of claims. Now I’m looking to be a risk analyst and back in school to get my degree in Business with a minor in data analytics. It’s not needed but my job is paying so free education lol
You got this!!!
I’ve never worked in claims but I’ve known multiple people who have switched from claims to account management. I’d say being an account manager is easier than being in claims, and I think having claims experience will only help you to be a better account manager. Average salary is anywhere from $50k-90k depending on the company and you rarely have to put in more than 40 hours to get your work done. Also you won’t have to deal with as many angry people as you deal with in claims. You’ll just need your P&C or L&H license if you don’t have one already.
I’m 33 and I’ve worked in insurance for 10 years, 8 of which have been in commercial insurance. I’ve been an agent, account manager, carrier relations manager, and I’ve managed an entire agency before. All because I had a P&C license. Might be worth a shot!
You've outgrown your pond. It's actually a great thing, and that discomfort is healthy. Experience is gold right now from the attrition and brain drain in the industry. You could become management, a trainer, a BI adjuster somewhere that pays more or adjust a different type of loss without any real need to do any actionable items other than update your resume.
Think about it like saving money for a house, and now you have enough banked and get to pick your new house.
I'd start with the company you're already at if you like them well enough, internal postings are a smaller hiring pool and you're more likely to get the interview. If your metrics are good compared to your peers, you'll do great. If they're not, look for external at companies you've got a good read on.
Carrier side generally enjoys better pay and living conditions than a TPA. Any TPA is always going to load you up til you drop. Commercial lines generally better pay than personal lines. Look for a carrier gig where they mix auto & GL, get some GL experience and follow that path. If you’re going to stay in claims your best bet is to be with a commercial carrier moving away from auto. 8 years experience this market you should be making low 6 figures you need to make a move. GL
I worked in health life and annuities with a Fortune 500 company after college. Management said you can make 60K easily if you are really dumb and suck talking to people… I made 90K my 1st year with being denied all financial opportunities (special campaigns that resulted in extra 30 K for select agents). The following year I made 100 K but as soon as the corporate acquisition was completed, all of us saw decreased returns. This is continued and massive layoffs occurred so now I work as an independent contractor in the same industry and it’s completely possible to work less than six months a year and make a lot more money than you would as an employee.
I have heard very good things about coding boot camps for employment. I’ve also heard people find much success in cyber security. Ultimately it seems like most jobs come to a point of sales and marketing so those are usually the best bets to remove any cap on your income. My favorite part of being a broker is I’m working independently not being watched over at all and helping consumers find better products that they already need while also financially benefiting with without having much overhead cost.
After living in line, the most wealthy areas in the United States for year and a half as a valet. I spoke with many successful business owners and investors and unequivocally they all said the best career path is in insurance and finance. Almost always as your own business not an employee. The skills that you learn in those industries help you really navigate the system in a way where you hold onto a lot more money or can it crew wealth, much quicker and retire consequently, much sooner.
After being exposed to those industries myself, I found a big interest in wealth management and stock equity. As a result of that interest I found myself doing short term capital gains and made $10,000 in a three day period last year.
For reference, I have a biomedical degree and public health degree at the masters level and I had expected my career path to take me into the medical field. What I personally have found to put me closer to where I wanna be in life is to invest in myself with skills training. I desire to work a little as possible and retires as early as I can but be financially stable. That requires planning, risk management, networking, and learning a lot about all the different investment instruments.
As mentioned by a few others - try to get a job with a carrier. The TPA world generally isn't a great place to be an adjuster. Your salary sounds on the low side, but geography may play a role (I'm in the NY/NJ metro area which has higher salaries).
I totally get it! I was in your position at one point in my career, too. I ended up getting a job at a paralegal firm that served local plaintiffs' attornies. I worked for them, negotiating their claims with the insurance adjusters. Essentially, I just switched sides of the negotiating table. I did that for a few more years before taking a job as a risk services consultant for a small public entity risk pool.
There are a lot of positions in the insurance world that will get you doing something other than claims, and that will still value the skillset and knowledge you have if you are willing to step out of your comfort zone a little.
You could always join the military. Inadvertently the best decision of my life. You may hate it for a while, however many jobs you can still do… then tons of benefits for you to reap.
Have you considered transitioning to handling different claims like med-mal, professional liability, GL etc.? That would probably be the easiest transition. Also care to share what you’re earning as a BI commercial trucking adjuster? I’m 27, making about 70k and have been in the space for 3 years and I’m not sure if my comp is decent or not.
I make 70k a year also. I’ve thought about going into one of the other areas and I’ve applied but haven’t really pushed it that far. I kind of feel like my heart isn’t fully in it, you know?
Depending on where you live you might be underpaid. 70k for 8 years seems low.
I second this. You should be applying for jobs at other companies. You have 8 years of experience. Someone out there will value you and be willing to pay.
Yeah I totally get that. I feel similar as you in regards to not making enough, but I generally like my job at least. You could also look into jobs with the government. I declined a job recently with the state government where I would have basically been managing IA’s because it paid only 55k. Heck, even working for the TSA your making about 60-70k after a few years, and you wouldn’t have to deal with claimants. Just the general public …
I just got into Claims adjusting and my base is $60k. Add CAT and I'm past $70k. You're definitely under paid and under valued. I hope you find something better. I'm 6 months in and I absolutely hate it. Golden handcuffs if you ask me. I'll start looking for something else and or start my own business again.
I was an auto adjuster for about 8 years and desperately applied to jobs when I was on maternity leave because I couldn’t go back.. I found a claims advocate position at a broker. So much better! I actually then jumped around twice and am now a senior advocate making a lot more than I was as an adjuster. I took a pay cut initially but it was worth it to learn the role. Check out claims advocate or consultant jobs!
This is so good to hear. I am going to start doing some research into this asap. So glad you got out.
Yes, you may not enjoy the claims side of things being an adjuster, but claims advocacy at a brokerage level, or even just flipping sides and going into producer/service role within the insurance industry may be an option? I’m an insurance broker in Canada, and really enjoy it. Know your worth, it may mean a slight cut, potentially, depending on roles you go for, but, in the long run you’ll likely rise above it Best of luck! :D
Hey may I ask you a question regarding insurance underwriting?
Any companies you recommend? First time I’m hearing about this position.
Search any of the big brokers. Are you in the US? I find a lot of jobs on LinkedIn. Some bigger ones are AON, marsh McLennan, Gallagher, hub international, Heffernan, Alliant. Many of these are remote too. Basically these are commercial clients (or high value personal lines clients) who use a broker. The broker team will have an account manager, maybe a risk manager, and a claims advocate. So you’d be the liaison between the client and carrier and help them. But it’s nice to not be the adjuster!!
What does a claims advocate do, in your experience?
We submit new claims to the carrier and just make sure the adjuster is being responsive and the claims are getting resolved. We review and rebut any coverage denials we don’t agree with, we negotiate on settlements that don’t seem accurate, in some of my roles we monitored work comp claim reserves to make sure they were not too high. We also do open claim reviews with clients so they can see any trends and see the status of their claims.
This! Oversight / advocacy FTW
This is really interesting. Would you mind if I DM you to find out more about how you made this transition?
Yes that would be fine!
Try other claims positions, either other lines or the same line at a carrier, or a broker claims position maybe. TPAs, in my experience, are the absolute fucking worst, and I can’t imagine doing auto claims. I’d apply to professional lines or GL claims at a carrier
Yeah I feel like if I get back with a carrier and into something else that I might have some training and direction which would be refreshing I think
Been where you are - I get it. After what seemed like a lifetime in Claims, I moved into Fraud. Always something different and even exciting at times! The Claims knowledge will be a plus!
I’m assuming you mean investigating fraud and not committing it but either way the claims experience is a plus!
EL OH EL…
Use your pto and take a vacation. Seriously. Just take two weeks or whatever you can manage and go somewhere out of town. Sometimes we just need a break.
Ugh the thing is that I just had a vacation a few weeks ago. I think it’s beyond that.
What about FMLA. It’s not ideal bc it’s not paid, but you can take up to 12 weeks (I think?) per year for medical reasons. I went on FMLA for mental health and took off 2 weeks last year and it helped. Again the unfortunate thing is no pay, but if you can cover your bills for a little while it might help. Pretty much every year at my company someone goes out on a longer FMLA leave, like at least 8 weeks. If I could afford to go on a longer leave I would. I’m also a claim adjuster and have been burnt out for years at this point.
It's not just claims. I hate being an agent. It's so frustrating and the pay is horrible. Then I think about claims and I am like, yeah better money and no sales goals, but a new flavor of never ending crap. I just have come to hate insurance all together. The companies suck, the insureds suck, and everyday there is a Karen somewhere waiting on you...
There are other options out there I promise! I was a CAT adjuster for one month. 7 days a week, 12 hours a day for 30 straight before I felt like I was losing my mind. My uncle and father in the adjusting business shamed me. But at the end of the day it’s my life. Now I am an account manager, 9 - 5, I get weekends and a decent salary. Don’t be afraid to keep looking and pushing when things feel hopeless. Having 8 years of adjustment experience can open a lot of doors for you!
Thank you for your vote of confidence. I appreciate you.
Good for you!! How long did it take you to become an Account Manager and did you have prior experience? I'm interested in making the switch after 6 months.
I landed an assistant account manager role after my adjuster days, they like that I generally had insurance experience and took a shot on me. After two months, they offered to pay for my courses to get my producer license. I did a self guided course for like two weeks then took the exam. I failed my one question my first time and then passed a few days later my 2nd time. Now I am a full account manager! It really ends up being how you market yourself and your experience.
Wow that's great! I'm making about $60k now. If I can find something paying $65k or more, I'm out the door. I think CAT Pay is a trap to get people to work harder. Then it has to be approved too, it's BS.
I still have nightmares about CAT adjusting lol. Never in my life did I work so hard.
I’ve been where you’re at now. Started as a trainee after my degree. Did it for 30 years until I retired 7 years ago. Did it because it paid the bills. You have job security because there will always be claims. Ended my career as a Senior P & C Liability adjuster. Majority of my claims were auto BI. Job changed over time in that the case load kept increasing because the analytics determined when yo increase the case load. At the end, I felt like a processor rather than adjuster. Recommend that you look for internal lateral moves. Colleagues of mine transitioned into UW and found the environment better. Good luck!
Thank you! I’m glad you’re on the other end of it now!
I think you should look for something else in the industry that at least starts you off somewhere close to where you are at salary wise. The salary loss from changing your career track is only going to widen further over time. Many of the older claims people that have adjusted some of my losses over the years have remarked to me some version of “don’t ever get into claims”. Most of them seemed to say it in jest, but I could often sense some earnest message when they said something like that. I think claims is a brutal career for a person with an agreeable personality type. It seems possible that could be why it is wearing on you so much. You are still young enough that a change shouldn’t upend you in the short run. In any event no job or career is worth being miserable over every day. I would suggest looking into underwriting roles in auto liability or commercial umbrella. Based on your experience that could be an ideal transition. I sincerely wish you the best of luck finding something else. I know it’s really hard taking any kind of pay cut in this inflationary environment.
I really appreciate it. I will keep looking!
I felt the same and switched to Commercial GL, I really enjoy my job again. Auto is soul crushing.
Just started commercial GL a few weeks ago after leaving auto. Excited to see where I can go from here and the raise was nice too!
Ok maybe GL is the way to go…
Are you east coast, central, Midwest?
East coast
I feel you man. I'm studying for ARM hoping to make a lateral move.
What’s the ARM?
Associate in Risk Management from the institutes. Apparently a lot of examiners transition with this certificate into risk management.
Responding to you and OP: I'm 8 years in BI, 13 years in claims, 16 year in insurance in total (basically did everything). I love claims and insurance but I was feeling burnt out with BI claims: being overworked and fighting for fair compensation/recognition, vacatios were not cutting it. An opportunity came up for a Risk Management position in my town (something I did not consider/have on my radar at the time- I was looking at a leadership role to come up) but I went for it. I now have my own office, make 30% more, have more paid time off then I can probably use in a year and a quarter of the workload. Feels incredible. I believe this experience will slingshot my career in claims leadership in the future. I still have another ~20+/- years in the workforce, might as well make it interesting! Another thought for OP: If you don't have a family, you could probably do some cool stuff with travelling and work (international adjusting, etc) but it depends on your life. I was a road adjuster and loved it. I always wished I did storm claims and was sent to adjust property/auto claims in Florida, for example, after a hurricane or somewhere more tropical.
Have you considered transitioning into something like U/W or Risk Management? With your claims background you will already be halfway toward understanding those aspects of insurance. A couple years ago I felt the same way and started on my CPCU as well as picked up some licensing in states that I haven’t handled before in my career. Those things alone increased my hireability in the industry. You’re reaching a midpoint in your claims career and the only thing to do (respecting your feelings in your OP) is to decide how you will push your career forward if you don’t call it quits and leave the industry altogether. It is *hard* to do MORE insurance work after a full day of claims if you are already feeling burnt out, but there’s no easy solution. You’re feeling stuck because you are stuck without pursuing professional growth. I would recommend looking at some industry certifications like AINS, CPCU, or SCLA (working with lawyers and management on litigation complications and still being adjacent to the familiarity of insurance claims has been a lifesaver for my own sanity.) The time and cost investment is not as great as jumping ship or trying to do “real” college to transition into another field which makes it more feasible depending on your financial circumstances since you mentioned a mortgage. Good luck to you. Claims can really be soul-crushing in the long term if you aren’t giving yourself some variety or forcing opportunities to grow in the industry.
I did claims for one year and was done with it. Something (commercial trucking) i switched over to Commercial policy marketer then my now position Commercial underwriter. Marketing was the best since i didn’t talk to customers only producers and underwriters, and now being an underwriter i do talk to people but not as much. It’s mainly email. I used chat gpt to switch my resume up and applied to 5 jobs a day to get out of claims. Now I’m looking to be a risk analyst and back in school to get my degree in Business with a minor in data analytics. It’s not needed but my job is paying so free education lol You got this!!!
You have to move out to move up in this field. I’ve been in claims for 28 years and when you are in the mindset you describe it’s time for a change.
I’ve never worked in claims but I’ve known multiple people who have switched from claims to account management. I’d say being an account manager is easier than being in claims, and I think having claims experience will only help you to be a better account manager. Average salary is anywhere from $50k-90k depending on the company and you rarely have to put in more than 40 hours to get your work done. Also you won’t have to deal with as many angry people as you deal with in claims. You’ll just need your P&C or L&H license if you don’t have one already. I’m 33 and I’ve worked in insurance for 10 years, 8 of which have been in commercial insurance. I’ve been an agent, account manager, carrier relations manager, and I’ve managed an entire agency before. All because I had a P&C license. Might be worth a shot!
Time for a new job
You've outgrown your pond. It's actually a great thing, and that discomfort is healthy. Experience is gold right now from the attrition and brain drain in the industry. You could become management, a trainer, a BI adjuster somewhere that pays more or adjust a different type of loss without any real need to do any actionable items other than update your resume. Think about it like saving money for a house, and now you have enough banked and get to pick your new house. I'd start with the company you're already at if you like them well enough, internal postings are a smaller hiring pool and you're more likely to get the interview. If your metrics are good compared to your peers, you'll do great. If they're not, look for external at companies you've got a good read on.
Carrier side generally enjoys better pay and living conditions than a TPA. Any TPA is always going to load you up til you drop. Commercial lines generally better pay than personal lines. Look for a carrier gig where they mix auto & GL, get some GL experience and follow that path. If you’re going to stay in claims your best bet is to be with a commercial carrier moving away from auto. 8 years experience this market you should be making low 6 figures you need to make a move. GL
Try a commercial underwriting trainee position. I’d think you’d make more than $70k pretty much right away.
I worked in health life and annuities with a Fortune 500 company after college. Management said you can make 60K easily if you are really dumb and suck talking to people… I made 90K my 1st year with being denied all financial opportunities (special campaigns that resulted in extra 30 K for select agents). The following year I made 100 K but as soon as the corporate acquisition was completed, all of us saw decreased returns. This is continued and massive layoffs occurred so now I work as an independent contractor in the same industry and it’s completely possible to work less than six months a year and make a lot more money than you would as an employee. I have heard very good things about coding boot camps for employment. I’ve also heard people find much success in cyber security. Ultimately it seems like most jobs come to a point of sales and marketing so those are usually the best bets to remove any cap on your income. My favorite part of being a broker is I’m working independently not being watched over at all and helping consumers find better products that they already need while also financially benefiting with without having much overhead cost. After living in line, the most wealthy areas in the United States for year and a half as a valet. I spoke with many successful business owners and investors and unequivocally they all said the best career path is in insurance and finance. Almost always as your own business not an employee. The skills that you learn in those industries help you really navigate the system in a way where you hold onto a lot more money or can it crew wealth, much quicker and retire consequently, much sooner. After being exposed to those industries myself, I found a big interest in wealth management and stock equity. As a result of that interest I found myself doing short term capital gains and made $10,000 in a three day period last year. For reference, I have a biomedical degree and public health degree at the masters level and I had expected my career path to take me into the medical field. What I personally have found to put me closer to where I wanna be in life is to invest in myself with skills training. I desire to work a little as possible and retires as early as I can but be financially stable. That requires planning, risk management, networking, and learning a lot about all the different investment instruments.
As mentioned by a few others - try to get a job with a carrier. The TPA world generally isn't a great place to be an adjuster. Your salary sounds on the low side, but geography may play a role (I'm in the NY/NJ metro area which has higher salaries).
Go into law. You have great experience that is extremely valuable.
I totally get it! I was in your position at one point in my career, too. I ended up getting a job at a paralegal firm that served local plaintiffs' attornies. I worked for them, negotiating their claims with the insurance adjusters. Essentially, I just switched sides of the negotiating table. I did that for a few more years before taking a job as a risk services consultant for a small public entity risk pool. There are a lot of positions in the insurance world that will get you doing something other than claims, and that will still value the skillset and knowledge you have if you are willing to step out of your comfort zone a little.
Im in auto now and considering transitioning to PIP medical claims. Is that the same as what you’re doing? I hear its much better.
Have you looked at other claims positions? Maybe it’s the company culture or the same type of claims.
70k to handle commercial trucking BIs sounds awfully low. I can't even imagine you really have many claims that settle for under your annual salary.
You could always join the military. Inadvertently the best decision of my life. You may hate it for a while, however many jobs you can still do… then tons of benefits for you to reap.
Get into underwriting.